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    Property profile & analytics

    605 Main St Summerville, SC 29483

    • Auto shops
    • 15,958 SF
    • 1.93 lot acres
    For Lease
    View listing
    Last Sale
    Dec 03, 2020
    $2,210,000
    Value Estimations
    $3,015,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US77-0725133
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Half-Moon Outfitters / Outdoor Clothing And Equipment Shop
    • Barrelli Barber - Summerville / Barber Shop
    • SpokeWorks Bicycle Workshop / Bicycle Shop / Bicycle Repair Shop

    Property Details for 605 Main St

    Year built
    2013
    Construction
    METAL FRAME
    Lot size
    1.93 lot acres
    Property size
    15,958 SF
    Zone code
    UCMX_SV
    Property type
    Auto shops
    APN
    137-04-01-001
    APU
    1370401001

    Description

    This exceptional 5,000 sq ft commercial lot, located at 605 N Main St in Summerville, SC (APN 137-04-01-001), presents a unique investment opportunity. Zoned commercial, this single-tenant retail pad offers on-site parking and is ideally situated as a corner outparcel. The property boasts a total buildable area of approximately 6,800 square feet, making it suitable for a variety of uses. A ground lease or build-to-suit option is available. This prime location benefits from its proximity to the new Half-Moon Outfitters, a significant anchor tenant that will drive substantial foot traffic to the area. The property's high visibility and convenient access make it an excellent choice for a café, coffee shop, bank, or other retail establishment seeking a thriving location in Summerville's dynamic commercial landscape. The lot size is 5,000 square feet, providing ample space for development. This is a rare opportunity to secure a highly desirable commercial property in a rapidly growing area of Dorchester County, South Carolina, with a 29483 zip code.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,625,000
      ML approach
      $2,490,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,175,000
      Market price range: $2.07M - $5.83M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $3,500,000
      Current use
      OFFICE BUILDING
      $4,205,000
      Change: +20% Conversion: Difficult
      RETAIL STORES
      $3,695,000
      Change: +5% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Summerville
    County
    Dorchester
    State
    South Carolina
    Longitude
    -80.1693
    Latitude
    33.0269
    CBSA code
    16700
    CBSA name
    CHARLESTON-NORTH CHARLESTON, SC METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $41,461
    $33,128
    $99,473
    $132,601
    -
    $552,125
    $1,657,875
    $2,210,000

    Comparable in this City

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      120 Beaty Ln

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    • Value Estimation
      $160,000
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      Dig It Rd

      AUTO REPAIR, GARAGE • 2,834 SF
      Dig It Rd, Summerville, SC 29483
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    • Value Estimation
      $650,000
      22,100 SF

      118 Fabricators St

      AUTO REPAIR, GARAGE • 22,100 SF
      118 Fabricators St, Summerville, SC 29483-8694
      View Details
    • Value Estimation
      $2,310,000
      7,728 SF

      807 Main St

      AUTO REPAIR, GARAGE • 7,728 SF
      807 Main St, Summerville, SC 29483-6630
      View Details
    • Value Estimation
      $900,000
      4,800 SF

      505 Gum St

      AUTO REPAIR, GARAGE • 4,800 SF
      505 Gum St, Summerville, SC 29483-6869
      View Details
    • Value Estimation
      $250,000
      4,000 SF

      10474 Hwy 78th E

      AUTO REPAIR, GARAGE • 4,000 SF
      10474 Hwy 78th E, Summerville, SC 29483-8703
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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    605 Main St
    Summerville, SC 29483
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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